About UCO Bank

Wow! We are going to discuss a bank that has made quite an impression among a wider segment of the population. Through its blend of value-added products with an eye on excellent customer servicing, UCO Bank has always been talked about highly in the banking space. The key to the bank’s successful journey, which is now over 7-decade old, is its ability to deliver the right product to the right customer at the right time. Whoever the customers may be, the bank finds out the right offer to them, thereby inculcating a feel of authenticity towards its loans and deposits, which the bank primarily involves into.

The bank has combatted the competition well by keeping a large number of retail, corporate, MSME, NRI and rural customers on the board. All these customers look for custom UCO Bank products to fulfill their dreams. The constant reshaping of the products makes the bank stay among the peers who are slogging out in space where cut throat competition is evident from the fact that there are a large number of lenders waiting anxiously to shift the customers towards them.

Have you ever imagined as to how UCO Bank meet the varied customer needs? The answer lies in its strong ideology to serve customers with the best of the ability and a very competent workforce that works day and night to find the right solution for you. Most of the bank's board members have held the offices of Reserve Bank of India (RBI) and the Government of India. While some of them are experienced professionals in the areas of finance, business, economy, etc. All these add enormously to the value of UCO Bank, which has grown from strength to strength as the years went along.

Founded by Ghanshyam Das Birla in 1943 to operating over 3,000 branches and 2,500 ATMs, the bank has spread its wing enormously over the years. And with 42 head offices, the presence of the bank is enormous, to say the least.

Your own city, Indore, the destination of 'Poha', a type of food, also house the branches of UCO Bank. So, move around and find a branch out of around 30 branches that are there to serve you in Indore, a city located in UCO Bank.

Products Offered by UCO Bank in Indore

A myriad of financial products designed with a view to match your unique requirements is waiting for you to pick up at Indore branches of UCO Bank. These products generally include personal loan, home loan, car loan, trader loan and much more. All you need is to figure out your goal and find from the list of products that can help achieve it. The briefing of the basic details, I hope, can just be the thing you would want to have. For that, a table is outlined right below.

Basic Details of UCO Bank Loans in Indore

Products

Eligibility

Loan Amount

Interest Rate

Processing Fee

Tenure

UCO Home Loan

Individuals with a minimum age of 21 years at the time of application and 70 years at the proposed expiry of the loan tenure are eligible.

75%-90% of the property value

8.45% - 8.70%

0.5% of the loan amount

Minimum- ₹ 1,500

Maximum- ₹ 15,000

Upto 30 years

UCO Personal Loan

Confirmed employees of either public or private sector entities or have served for a minimum period of 2 years at the existing organization for getting the approval.

Net salary after deductions of PF and others must not be less than 40% of the gross income.

₹ 10 lakhs

9.60% - 12.60%

1% of the loan amount, subject to a minimum of ₹ 750

Upto 5 years

UCO Property Loan Scheme

Available to companies, firms and individuals who have a property to mortgage.

Age must be 21 years while applying for a loan and must not be over 65 years at the time of loan maturity.

Minimum monthly gross salary of applicants should be ₹ 20K-30K

Net salary should not be less than 40% of the gross salary or ₹ 10,000, whichever is more.

For businessmen, a yearly income of ₹ 4 lakhs is required.

₹ 2 Cr-5 Cr

10.75%-11.75% p.a.

Upto 1% of the loan amount

Upto 12 years

UCO Education Loan

Students applying for courses accredited to DoE. Courses for which loan is granted include ICWA, CFA, CA, MCA, MBA, MS, etc.

Age of 28-33 years at the time of application

₹ 10 Lakhs-20 Lakhs

10.60%-11% p.a.

NIL

Upto 15 years

UCO Car Loan

Regular employee with a minimum work experience of 6 months are eligible to apply for a car loan.

Monthly salary should be a minimum of ₹ 20,000, while self-employed must earn atleast ₹ 4 lakhs-5 lakhs

Upto 85% of the on-road price of new cars.

For salaried, loan amount can equal to 36 times of gross monthly emolument

Self-employed can receive loan upto 3 times of the average gross annual income of the previous two years.

For old cars, the maximum finance is restricted to 5 lacs-15 lacs

8.70% - 8.95%

1% of the loan amount, subject to a maximum of ₹ 1,500

Upto 7 years for new cars

Upto 5 years for old cars

UCO Trader Loan

Existing businesses which are in the operation for a minimum of years and making profits in the previous 2 years are eligible to receive the loan.

₹ 1 Lakh-2 Crore

9.75%-11.55% p.a.

Upto ₹ 20,000

UCO Roop Sangam

Available to any woman or a unit formed by a group of women.

The Partnership firms where women partners must have a higher share.

Companies where women own the maximum of capital, which is invested.

The borrower should be a minimum of 20 years at the time of application and must not be over 60 years by the time loan matures.

₹ 3 Lakhs-10 Lakhs

9.75% p.a.

Upto ₹ 363 per lakh and service tax, if any

Upto 5-7 years

UCO CA Loan Scheme

Chartered accountants be it on an individual or joint basis or proprietorship firm or a partnership firm.

CA firm must have been working for the last 2 years.

The applicant's name or firm name must not have figured among the RBI's list of defaulters.

Upto 2 Lakhs-1 Crore

11.70% p.a.

0.5% of the loan amount, subject to a minimum of ₹ 2,000

Upto 10 years

Documents Needed to Avail UCO Bank Loans in Indore

Products

Salaried

Self-employed

UCO Home Loan

Identity Proof- PAN Card/Voter ID/Passport/Aadhaar Card

Address Proof-Voter ID/Passport/Aadhaar Card/Utility Bill

Income Proof-Latest Salary Slips, Form 16 for the Last 2 Years, Bank Statement for the Last 6 Months

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